November 14, 2013 / 10:59 AM / 4 years ago

Deals of the day- Mergers and acquisitions

Nov 14 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** JPMorgan is set to close its energy trading operation in Geneva, which employs a team of around 12 traders, within the next four to five months, sources familiar with the matter said on Thursday. The investment bank will stop physical and paper trading of oil, oil products, energy and power in Geneva by the end of this year, a trade source said, while a source close to the bank said the operation would close by the end of the first quarter in 2014.

** Telecom Italia agreed to sell its controlling 22.7 percent stake in Telecom Argentina to Fintech Group for $960 million, as it presses on with a plan to raise 4 billion euros to fix its balance sheet and revive its business.

** Compuware Corp should consider an immediate sale or a new restructuring plan, activist investor Starboard Value LP said in a letter to the business software maker on Thursday.

** Italian broadcaster Mediaset and its sister company Mondadori agreed on Thursday a plan to group their digital, magazine and radio advertising operations under a single company.

** BNP Paribas has agreed to buy the Belgian state’s 25 percent stake in BNP Paribas Fortis for 3.25 billion euros ($4.36 billion) in a move that will help the country keep its commitment to lower public debt.

** Spanish savings bank La Caixa raised 1.65 billion euros ($2.2 billion) by cutting its majority stake in Caixabank to bolster its capital before Europe-wide stress tests and to meet stricter rules on how savings banks are run.

** Polish businessman Zygmunt Solorz-Zak is to merge Poland’s largest media company, Cyfrowy Polsat, with his mobile business Polkomtel to ease the group’s debt burden in a deal worth 6.15 billion zlotys ($2 billion).

** Britain’s Ophir Energy agreed a $1.3 billion sale of a stake in Tanzanian gas fields, bringing in a unit of Singapore’s Temasek Holdings to help fund a development project in the latest Asian investment in East Africa’s gas sector.

** Austrian energy group Verbund said it aimed to decide by year-end on the possible sale of its loss-making Mellach gas-fired power station.

** Polish state-controlled real estate group PHN is preparing for due diligence ahead of the government’s sale of another stake in the company to an investor, PHN said.

** U.S. private equity fund Advent International will buy a minority stake in Colombia’s Ocensa oil pipeline for $1.1 billion from Canadian oil firm Talisman Energy Inc, France’s Total SA and Madrid-based Cepsa, the Wall Street Journal reported, citing people familiar with the matter.

** Mexican frozen food company Sigma Alimentos has launched a 695 million euro ($932 million) takeover bid for Spanish meat processor Campofrio at a price analysts said could tempt its leading shareholder to sell.

** Google Inc struck a deal with private equity company KKR & Co to invest about $400 million in six solar power plants being built by Recurrent Energy LLC in California and Arizona, the Wall Street Journal reported, citing people familiar with the matter.

** The hotly contested takeover battle for Australia’s oldest dairy company, Warrnambool Cheese and Butter Factory Co Holdings Ltd, got even hotter as its largest shareholder Bega Cheese Ltd raised its bid to $461 million and said it would not attach conditions to its offer like other suitors.

** The New Zealand government is poised to sell down its stake in the national airline, Air New Zealand Ltd, by the end of the month, raising as much as NZ$400 million ($330 million) for its privatization program, local media said.

** Top shareholder Air France-KLM said it would not subscribe to Alitalia’s 300 million euro ($402 million) capital increase after the Italian airline failed to meet strict conditions for financial restructuring.

** America Movil’s chief executive told an Austrian magazine that the company did not plan a hostile takeover attempt of Telekom Austria, following its failed attempt to buy Dutch company KPN.

** Kenyan sisal producer Rea Vipingo’s main shareholder, REA Trading, has offered to buy all the issued shares in the company, REA Trading said.

** African budget airline Fastjet Plc said its largest shareholder, Lonrho Ltd, had sold its full stake in the carrier for about 1.49 million pounds ($2.38 million).

** Russia’s anti-monopoly watchdog has cleared a plan by telecoms operator Rostelecom to buy medium-sized lender Sobinbank, the regulator said.

** Norwegian bank DNB has sold some of the debt it held against distressed shipping firm Genco Shipping and Trading Ltd, a bank spokesman said on Wednesday.

** Turkish discount retailer BIM and Yildiz Holding’s financial unit Gozde Girisim said they each bought 11.5 percent of three Ziylan group companies for 105.4 million lira ($52 million).

** Fairholme Capital Management has proposed to buy the insurance businesses of Fannie Mae and Freddie Mac , a move that seeks to resolve the uncertain future of the mortgage financiers by freeing them from U.S. government control.

** Khazanah Nasional Bhd, Malaysia’s state investment firm, said its insurance arm had completed the $252 million purchase of a 90 percent stake in Turkish insurer Acibadem Saglik ve Hayat Sigorta.

** The Philippines’ largest lender BDO Unibank Inc said it had signed a definitive agreement for the acquisition of Citibank’s thrift bank unit in the country.

** Network equipment maker Riverbed Technology Inc is currently not weighing a sale, two people with knowledge of the matter said, denying a media report on Wednesday.

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